Full Retirement Age for Social Security Benefits in 2025: Key Facts and Average Payouts

In the United States, full retirement age refers to the age at which you qualify to receive your complete Social Security retirement benefits without any reductions. This age depends on your birth year and ranges from 65 years and 0 months for those born in 1937 or earlier, up to 67 years for individuals born in 1960 or later.

Key Points to Remember

• The full retirement age determines when you can claim your full Social Security benefits.
• You can start receiving benefits as early as age 62, but early claims result in reduced monthly payments.
• The Social Security Administration (SSA) has gradually increased the full retirement age in response to longer life expectancies.

Claiming Benefits Early Means Lower Monthly Payments

If you choose to claim Social Security retirement benefits before reaching your full retirement age, your monthly benefit will be permanently reduced. This reduction accounts for the longer period over which you will receive payments. For example, retiring at age 62 results in smaller monthly amounts compared to waiting until full retirement age.

The reduction amount is calculated by SSA formulas based on your birth year. Individuals born in 1937 or earlier have a full retirement age of 65, while those born between 1938 and 1960 experience a gradual increase, reaching 67 for those born in 1960 or later.

Note

The full retirement age has been increasing over the years and may continue to rise in the future.

How Social Security Earnings Are Calculated

Your Social Security benefits are determined by your lifetime earnings. The SSA adjusts your past earnings to reflect changes in average wages and calculates your average indexed monthly earnings over your 35 highest-earning years.

This calculation results in your Primary Insurance Amount (PIA), which is the benefit you receive at full retirement age.

Work Credits and Eligibility

To qualify for Social Security benefits, most people born in 1928 or later must earn at least 40 work credits. You earn up to four credits per year by working and paying Social Security taxes, which usually means working for about 10 years.

If you haven't earned enough credits yourself but are married to someone who has, you may be eligible for spousal benefits, which can be up to half of your spouse's benefit. Additionally, if your spouse passes away, you can receive survivor benefits equal to 100% of their benefit once you reach full retirement age, or reduced survivor benefits starting at age 60.

Average Social Security Benefit in 2024

As of January 2024, the average monthly Social Security retirement benefit is approximately $1,976.

Earliest Age to Claim Social Security

The earliest age to begin collecting Social Security retirement benefits is 62. However, claiming benefits at this age results in reduced monthly payments compared to waiting until full retirement age.

Taxation of Social Security Benefits

Approximately 40% of Americans pay federal income taxes on their Social Security benefits because their total income exceeds certain thresholds.

Summary

Your full retirement age is the key milestone for receiving your full Social Security benefits without reductions, varying between age 65 and 67 depending on your birth year. Early claiming reduces monthly benefits, while working enough years and earning sufficient credits ensures eligibility. Understanding these factors helps you make informed decisions about when to start receiving your Social Security retirement benefits.

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